$BTC 3.1 Latest Bitcoin and Ethereum Market Analysis and Trading Recommendations

Currently, the $64,500 region has experienced multiple dips but quickly recovered, indicating significant short-term buying support at this level. This also reflects the market's natural technical correction after being oversold. However, from a higher-dimensional daily chart perspective, although short-term moving averages are showing signs of turning due to price rebounds, the medium-term moving averages remain under downward pressure. This suggests that the dominant trend in the larger cycle is still held by the bears. Yanling believes that the current rally should be defined as a technical rebound after overselling, not a trend reversal.

Switching to the 4-hour timeframe, although the MACD and KDJ indicators are short-term bullish, indicating that the rebound momentum is still in the release cycle, the price has now approached the critical support level of the 4-hour timeframe—the MA60 moving average. This level is usually key in determining whether a short-term rebound can develop into a trend reversal. Based on current momentum, trading volume has not shown effective expansion with the price rise, and the upward push is clearly insufficient, suggesting a technical pullback with a potential for a retreat after a high. If the price cannot hold above the MA60, the probability of the rebound ending will greatly increase.

Focusing on the 1-hour ultra-short-term level, the market has shown signs of fatigue. After repeatedly testing high levels, a small double-top pattern has formed, and short-term indicators are already turning downward. This indicates that the bullish sentiment at the ultra-short-term level has been temporarily exhausted, and the market may need to consolidate at high levels or directly enter a small-scale correction. For aggressive bears, this often signals a left-side entry point.

In the afternoon, consider shorting Bitcoin around 67,500 with a target of 65,000.
In the afternoon, consider shorting Ethereum around 2,020 with a target of 1,900.